Hiranyakasipu said;—O grand-father, I pray for this boon, that the gods, Asuras, Gandharvas, Yakshas, Nāgas, Rakshasas, men and goblins may not by any means kill me and that the Rishis, when enraged, may not imprecate a curse on me, and that the weapons, mountains, trees, dry or wet articles or any other things may not bring about my destruction. Let him alone be my destroyer who will be able, with his servants and army, to kill me only with the strokes of his arms. I, myself, shall be the moon, the sun, the air, the fire, air, ether, the stars, the ten quarters, desire, anger, Varuna, Vāsava, Yama, the lord of riches and Yaksha, the king of Kimpurushas (49-54).

Thus addressed by the king of Daityas, O emperor, the self-sprung Deity smilingly said;—"O my child, I confer upon you these most wonderful and celestial boons. Undoubtedly you will attain to all your desired-for objects (55–56)." Having said this the divine grand-father repaired, by the etherial region, to his habitation Vairaja resorted to by the Brāhmana saints. Hearing that the water-sprung deity, the foremost of the celestials, had conferred this celestial boon on Daitya-king Hiranyakasipu, the gods, headed by Indra, communicated it to the Creator. Hearing of this conferring of the boons the Devas, the Nāgas, the Gandharvas and the Munis appeared before the grand-father (57–56).

The Gods said—"O lord, by this boon the Asura will oppress us. Be thou propitiated and concert a measure for his destruction" (60). Hearing those words beneficial unto all the lord Prajapati, the omniscient, self-sprung Deity, the invisible and immortal creator of Havy, Kavya and all other creatures said to the gods (61–62). "Forsooth he must attain to the fruits of his asceticism. After he enjoys them the lord Vishnu will kill him." Hearing these words from the lotus-sprung Deity all the gods, filled with delight, repaired to their respective celestial habitations (63–64). As soon as he obtained the boon the Daitya Hiranyakasipu, elated with the pride thereof, began oppressing all the creatures (65). He first of all carried his work of oppression on the great, truthful and self-controlled Munis of firm vows living in the hermitages (66). Having vanquished all the gods of the three worlds and having brought them all under subjection the Daitya Hiranyakasipu lived in the celestial region (67). As long as he, elated with pride, lived in the celestial region the gods could not partake of the sacrificial offerings and the Daityas were entitled thereto (68).

Thereupon the Adityas, Viswas and Vasus sought refuge with the highly powerful Nārāyana Vishnu, the lord of protection, who is Brahman identical with the gods and sacrifices, who is the presiding god of the Brāhmanas, who is eternal, the present and past and future and who is omniscient and adored of all the worlds (69–70).

The Gods said:—O. king of gods, O foremost of the celestials, do thou save us from the fear of Hiranyakasipu. Thou art the Supreme Lord of us all and of Brahmā and others. Thou art our Great God and Great Preceptor. O thou having eyes like the full-blown lotuses, O thou the destroyer of enemies, do thou become our help for bringing about the destruction of the demons (71–72).

Vishnu said:—O ye immortals, do ye renounce your fear. I promise you safety. O gods, you will, in no time, acquire as before the celestial region. I will slay this king of Dānavas, elated with pride, who is unslayable even by the immortals (73–74).

Vaishampāyana said:—Having said this and left the company of the king of gods and others the Lord Hari assumed the form of a half-lion and a half-man. Having pressed his one palm against another Hari, in his man-lion form, repaired to the court of Hiranyakasipu (75–76). His colour was like that of clouds and his voice was like the muttering thereof. He also became effulgent and fleet like a cloud (77). He, with his own hand, killed the highly powerful and proud Daitya, gifted with the prowess of a tiger and protected by the mighty Daityas (78). This is the man-lion incarnation. Next is that of a dwarf. Assuming this form destructive of the Daityas in the days of yore the powerful Vishnu, with his three foot steps, assailed the Asuras in the sacrifice of Bali (79–80).

Viprachitti, Shivi, Sangkaraya, Shangku, Ayashirās, the powerful Hayagriva, the fierce Ketumān, Ugra, Sogra, Vyagra, Mahāsura, Pushkara, Pushkala, Sayoshya, Aswapati, Pralhāda, Aswasirā, Kumbha, Sanghrāda, Gaganapriya, Amihrāda, Hari, Hara, Varāha, Sankara, Ruja, Sharabha, Salabha, Kupana, Kopana, Kratha, Vrihatkirti, Mahāgihva, Sankukarna, Mahāswana, Dirghajlbha, Arkanayana, Mriduchāpa, Mriduprya, Vāyu, Garishtha, Namuchi, Saruvara, Vijvara Mahān, Chakrahanta, Krodhahantā, Krodhavardhana, Kālaka, Kālakeya, Vritta, Krodha, Virochana, Garishtha, Varistha, Pralamva, Naraka, Indratāpana, Vātāpi, Valadarpita, Ketumān, Asiloma, Pulomā, Vāshkala, Pramada, Mada, Vaishika, Kālavadana, Kārala, Koushika, Shara, Ekāksha, Chadrahā, Rahu, Sanhārāshwa, Mahiswan, Shataghni, Chakrahasta, Parighapāni, demons with Ashma and Vindipāla weapons in their hands, with those maces and mortars in their hands, those with Parashwa weapon, maces, clubs spikes and various other weapons in their hands, those assuming various dreadful forms, those assuming the forms of tortoise and fowl, the faces of hares, asses, camels, boars, dreadful Makaras, jackals, mice, frogs leopards, cats, elephants, crocodiles, lambs, hogs, kine, buffaloes, Godhas, deer, Garuda, those having faces like swords and peacocks, those having armours made of the skin of elephants, some wearing antelope skin, some covering their bodies with barks, some wearing head-dresses, some wearing crowns, some wearing Asura ear-rings, some wearing Kiritins, some with long tufts of hair, some with conch-like necks—thus a numberless Daityas, wearing various dresses, adorned with diverse garlands and taking up their burning weapons, surrounded on all sides the powerful Hrishikesha (81-98). Assuming a highly dreadful form and grinding them all with his hands and feet the Lord immediately freed the earth of the demons (99). When he placed his foot-step on the earth, the sun, and the moon remained on his breast, and when he placed his foot-step in the sky they lay in his navel (100). And when he placed his foot-step on a better place (than all these) they lay on the knees of the highly powerful Vishnu. This has been related by the twice-born ones (101). Having thus slain all the leading Asuras the Lord Vishnu, the foremost of all the gods, saved the earth and conferred the celestial kingdom on the king of gods (102). Thus have I described the dwarf incarnation of the Great Vishnu. The Brāhmanas, well-read in the Vedas, describe it as the glorious conduct of Vishnu (103).

The Great Vishnu, the soul of all, next incarnated himself as the highly forgiving Dattātreya. When the gods disappeared, the religious works, sacrifices and the four castes suffered deterioration, when truth was lost and untruth flourished, when all the creatures were about to perish, when virtue was on the verge of extinction the Lord re-established the four Vedas with sacrifices as well as the four castes (104-107). The boon-giving, intelligent Dattātreya conferred a boon on the Haihaya king Kārtavirya, saying:–"O king, these your two arms, by the power of my boon, shall be thousand-fold. O lord of the earth, you will rule over the entire earth and be conversant with virtue. Your enemies shall not be able to look at you" (108-110). O slayer of enemies, O emperor, as heard by me, I have described to you the most wonderful and auspicious incarnation of Vishnu. The Great Lord next incarnated himself as Jāmadagni (111). In this incarnation Rāma killed in battle Arjuna in the midst of his irrepressible army who were filled with wonder at his thousand arms (112). Having brought the king Arjuna on earth from his car and assailed that king roaring like clouds with all his kinsmen, Bhrigu's son Rāma chopped off his thousand arms with his sword (113-114). The earth, adorned with the mountains Meru and Mandara, contained Kotis of Kshatryas. He divested the earth of the Kshatryas for twenty one times (115). Having divested the earth of the Kshatriyas the great ascetic son of Bhrigu undertook the celebration of a horse-sacrifice for the expiation of all his sins (116). In that sacrifice consisting of profuse gifts Bhrigu's son, with great delight, made a gift of the earth to Marichi's son Kashyapa (117). In that horse sacrifice the highly liberal and illustrious Rāma, the foremost of car-warriors, made presents of quick-coursing horses, cars, endless gold, kine and elephants (118). Even now practising hard austerities, Bhrigu's son, effulgent like a celestial, is living on the most excellent mountain Mahendra (119). This is the account of the Jāmadagni incarnation of the great and intelligent Vishnu, the foremost of gods, bearing the mystic mark of Srivatsa on his breast (120).

In the twenty fourth Yuga, sending Viswāmitra before him and dividing himself into four parts the mighty-armed Lord Isvara became celebrated in the world as the king Dasaratha's son Rāma. He had eyes like lotuses and was effulgent like the sun (121-122). For extending his favour to the world, for destroying the Rākshasas and increasing virtue the highly illustrious Lord was thus born (123). The sages designate that king of men as the body of the masters of Bhutas. Viswamitra instructed that intelligent one in the use of various weapons for the destruction of the enemies of the gods who were irrepressible even unto them and who put obstacles in the sacrifices of the self-controlled ascetics. On their behalf that high-souled (prince) the foremost of the strong killed the two Rakshasas (Mārichi and Suvāhu) (124–126). Formerly in the sacrifice of the high-souled Janaka, he, easily out of sport, snapped the bow of Hara (127). Living in the forest for fourteen years in the company of Lakshmana Rāghava, ever engaged in the well-being of all creatures and conversant with all the forms of religion, carried on austerities for fourteen years (128). The beautiful Sitā, well-known in the world used to remain by his side always. She was the Lakshmi known before and followed her husband (129). Living in Janasthāna he accomplished the work of the gods. Rāghava practised these hard penances for fourteen years. Lakshmana followed the foot-steps of Sita and remained there as his servant (130). There were two Rākshasas, Virādha and Kavandha of dreadful prowess. They became so by the imprecation of a Gandharva. Discharging at them burning arrows effulgent like the fire, the rays of the sun or lightning, strong as the thunder-bolt of Indra, and the feathers whereof were made of gold Rāma killed them both (131-132). On behalf of Sugriva the highly-powerful Rāma killed Bali in battle and installed Sugriva on the throne (133). The gods, the Asuras, the Rakshasas and the Pisacas were not capable of slaying Rāvana. He was difficult of being vanquished by any in the battle-field. Rāvana, having the hue of a collection of red collyrium, had millions of Rākshasas as his guards. The three worlds were terrorized by him. He was invincible, irrepressible, proud and powerful like a tiger. Even the celestials could not look at him and he was elated with pride on account of the boon. He, assisted by his ministers, killed in battle this highly powerful and huge bodied Rāvana, the king of Rakshasas, resembling a massive cloud, along with his army (134-137). In the days of yore, Rāma killed Rāvana the son of Pulastya, with his brothers, sons, ministers and army, who was a confirmed villain, committed a great iniquity and was invincible in battle. Madhu's son the great Asura Lavana, a heroic Dānava, who was elated with pride on account of the boon (conferred on him), was killed in battle in the forest of Madhu, by Rāma, who was an expert in battle. Other Rākshasas were also slain by him (138-140). Having performed these feats Rāma, the foremost of the pious, collected continually materials for the celebration of ten horse sacrifices (141). During Rāma's regeme, not a single inauspicious sound was heard, hostile winds did not blow and no body lost his property (142). No widows bewailed, nobody met with misfortune and the whole world[142] enjoyed peace during Rāma's rule (143). Creatures had no fear from the obstruction of water and air and the aged people had not to perform the obsequial rites of the boys (144). The Kshatriyas used to serve the Brāhmanas, the Vaisyas used to follow the Kshatriyas, and the Sudras, divested of pride, used to serve the three superior castes. The women never disregarded their husbands, and the husbands never ill-treated their wives. The whole world was in peace, and freed from robbers. Rāma alone was the lord and protector of all (145–146). During Rāma's rule people lived for a thousand years and had a thousand sons and no creature suffered from any disease (147). During Rama's rule, the gods, the Rishis and men assembled together in the world (148). Persons, well-read in the Puranas who consider Rāma as the source of all truths, have sung this hymn in honor of that intelligent one (149). "Ratha, the king of Ayodhyā, had a green hue, black eyes, nectarine speech, a shining face, arms extending up to the knees, a beautiful countenance and leonine shoulders". He ruled for eleven thousand years. In the kingdom of that high-souled king were continually heard the chanting of the Rig, Yajush and Sama Vedas, the twang of bows and the utterances "make gifts and eat" (150–152). The energetic and accomplished son of Dasaratha, Rāma, shining in his own effulgence, surpassed even the sun in his lustre (153). Having celebrated hundreds of holy sacrifices with perfect and most excellent gifts the highly powerful Raghava left Ayodhya and repaired to the celestial region (154). Having thus brought about the destruction of Rāvana with all his kinsmen, the omniscient and mighty-armed Rāma, the descendant of Ikshāku, returned to the region of the celestials (155).